Led by China Oil & Gas Pipeline Network’s $6.24bn acquisition of PetroChina Beijing Gas Pipeline and PetroChina Dalian LNG, Asia-Pacific’s oil & gas industry saw a drop of 8.47% in cross border deal activity during Q4 2020, when compared to the last four-quarter average, according to GlobalData’s deals database.
A total of 54 cross border deals worth $7.68bn were announced for the region during Q4 2020, against the last four-quarter average of 59 deals.
Of all the deal types, M&A saw most activity in Q4 2020 with 53, representing a 98.1% share for the region.
In second place was private equity with one deal capturing a 1.9% of the overall cross border deal activity for the quarter.
In terms of value of cross border deals, M&A was the leading category in China’s oil & gas industry with $7.41bn, followed by private equity deals totalled $4.99m.
Asia-Pacific oil & gas industry cross border deals in Q4 2020: Top deals
The top five oil & gas cross border deals accounted for a 90.1% share of the overall value during Q4 2020.
The combined value of the top five cross border deals stood at $6.92bn, against the overall value of $7.68bn recorded for the quarter.
The top five oil & gas industry cross border deals of Q4 2020 tracked by GlobalData were:
- China Oil & Gas Pipeline Network’s $6.24bn acquisition of PetroChina Beijing Gas Pipeline and PetroChina Dalian LNG
- The $333.8m acquisition of Philippine Tank Storage International (Holdings) by Keppel Infrastructure Trust and Metro Pacific Investments
- ADNOC Logistics & Services $168.4m asset transaction with Hunter Group
- The $110m asset transaction deal with Ionic Shipping (MGT) by General National Maritime Transport
- Delta Tankers’ asset transaction with TRF Ship Management for $71m
